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Cable Update (GBPUSD)

  • #417,421
  • Jul 22, 2015 11:18am Jul 22, 2015 11:18am
Quoting giveachance
My take for GBP now If we take out 1.5645 in NY session we are heading to 5678 and 5726 next. if we fail and don't close above 5645 or close below 5591 then the bear rally is starting again. right now bulls are in favour
bears can take over this pair if we start going below 5591. crunch time.
  • #417,422
  • Jul 22, 2015 11:33am Jul 22, 2015 11:33am
£ and € under pressure against $ as £ again attempts to move higher after the pullback from the current daily hi only to find supply as it did near that hi...now given up 50% + of it's current weekly lo-hi . Uk retail sales tomorrow may have a bearing on whether the rangy conditions continue on 1hr/4hr

best wishes
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it's all gone a bit........
  • #417,423
  • Jul 22, 2015 11:34am Jul 22, 2015 11:34am
bearish now. good bye bulls. bulls had a good chance today. that is gone now. won't be surprised to see a move back to 5560 quickly
  • #417,424
  • Jul 22, 2015 1:09pm Jul 22, 2015 1:09pm
I expect fake break to the downside to about 1.5510 and then strong move up.
  • #417,425
  • Jul 22, 2015 2:05pm Jul 22, 2015 2:05pm
buy@ market for 1.5685 stop @ 1.5575 ....resistance became support for will rally higher
  • #417,426
  • Jul 22, 2015 2:11pm Jul 22, 2015 2:11pm
GBPUSD is good for buy at 1.56 current price .. overall GBP pairs are bullish bias
  • #417,427
  • Jul 22, 2015 2:23pm Jul 22, 2015 2:23pm
Daily, barring any heavy selling into the close should close healthier for the bulls...that now former 1hr/minor 4hr swing hi zone to today's likely 5646 hi is the 1st real test of their power tomorrow ? this is at the base of the former 4hr/minor daily swing hi to last week's 5676 hi and this itself is at the base of the former minor daily swing lo zone that was minor support and became resistance...5701 at top of that is 61.8% of the main recent 5929-5328 fall and current weekly R1 pivot. A break above here opens up a possible assault on the next former daily swing hi zone leading up to 76.4% of same move at 5786..and of course a decisive move north thru this would open up that recent 5929 hi- a former swing hi on the weekly chart too. Rangy conditions persist on 1hr/4hr but perhaps looking more 'constructive' than before today (so far ?) Will be interesting to see if Uk retail sales data tomorrow do any thing to this pairing's near time direction. If daily candle closes as expected it will create a fractal swing lo on the daily at the current weekly lo from Tuesday of 5527.

best wishes.
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it's all gone a bit........
  • #417,428
  • Jul 22, 2015 2:50pm Jul 22, 2015 2:50pm
Cable merely back down from the test of 1.5642 in confluence with top trendline down, it then tested 1.5581 and made a HL So bias is still to the upside.

1.5546 is the near term support and we've seen price held up there well, if we can have a daily close bove 1.5600, then immediate upside targets will be tested again soon.

On the fundamental side, I know that the 0-0-9 vote announced this morning sort of disappointed the market given how eager it was to break up, but we should also note that the vote was carried out more than 2 weeks ago, at a time when many of the latest hawkish comments haven't yet hit the wire, so the unchanged voting results shouldn't completely overturn the effect of recent hawkish comments, and market focus will shift to a change of voting in Aug. Thus the fundamentals for a bullish GBP argument is still there, so long as there are no very bad sequence of data or sudden change of rhetoric, cable should be supported by sentiment, vs other dollar pairs.
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  • #417,429
  • Jul 22, 2015 2:54pm Jul 22, 2015 2:54pm
The day started very bullish on GBPNZD and I was thinking now there's a good trend to ride for a while but after some unexpected action I started to think maybe it was too good to be true. I closed much of my positions. No position is a position as well.
  • #417,430
  • Jul 22, 2015 3:50pm Jul 22, 2015 3:50pm
Quoting Darkforce
Cable merely back down from the test of 1.5642 in confluence with top trendline down, it then tested 1.5581 and made a HL So bias is still to the upside. 1.5546 is the near term support and we've seen price held up there well, if we can have a daily close bove 1.5600, then immediate upside targets will be tested again soon. On the fundamental side, I know that the 0-0-9 vote announced this morning sort of disappointed the market given how eager it was to break up, but we should also note that the vote was carried out more than 2 weeks ago, at a...
very reasonable analysis.
use leverage with caution...
  • #417,431
  • Jul 22, 2015 4:08pm Jul 22, 2015 4:08pm
Back where trading ended LOndon
  • #417,432
  • Jul 22, 2015 4:08pm Jul 22, 2015 4:08pm
Cable is faltering in the move to the upper trendline of a rising channel (Daily) and appears to be making a beeline for the bottom of the channel. After that...??? Who knows?

Short from 1.561, take-profit 1.5393.

Best of luck everyone riding this thing!

  • #417,433
  • Jul 22, 2015 4:51pm Jul 22, 2015 4:51pm
Looks like there's a divergence here, suppose to be a bearish sign, watch closely how it develops.
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  • #417,434
  • Jul 22, 2015 4:52pm Jul 22, 2015 4:52pm
Quoting Darkforce
Cable merely back down from the test of 1.5642 in confluence with top trendline down, it then tested 1.5581 and made a HL So bias is still to the upside. 1.5546 is the near term support and we've seen price held up there well, if we can have a daily close bove 1.5600, then immediate upside targets will be tested again soon. On the fundamental side, I know that the 0-0-9 vote announced this morning sort of disappointed the market given how eager it was to break up, but we should also note that the vote was carried out more than 2 weeks ago, at a...
Great explanation bro!
  • #417,435
  • Jul 22, 2015 10:41pm Jul 22, 2015 10:41pm
why is this thread so quite? everyone's pissed off at the volatility?
use leverage with caution...
  • #417,436
  • Jul 22, 2015 10:52pm Jul 22, 2015 10:52pm
ready to take a dump now or at the london open. but it is coming for sure
  • #417,437
  • Jul 23, 2015 12:03am Jul 23, 2015 12:03am
GBP INDEX - H1
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  • #417,438
  • Jul 23, 2015 12:43am Jul 23, 2015 12:43am
gu to 1.56750???
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forex... like it, trade it and manage it... get your profit...!!!
  • #417,439
  • Jul 23, 2015 1:42am Jul 23, 2015 1:42am
if good data = 1 57 x
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  • #417,440
  • Jul 23, 2015 2:38am Jul 23, 2015 2:38am
wuh, what a move a
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